Japan's Nikkei squeezes out modest gains as yen, Wall Street weigh [Yahoo! Finance]
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Source: Yahoo! Finance
The Nikkei was up 0.07% at 38,299.71 by the midday close, with gains and losses relatively limited as investors avoided making big moves before the market entered a long holiday weekend. The broader Topix gained 0.11% at 2,732.33. The U.S. Federal Reserve's monetary policy meeting concluded on Wednesday without any big surprises, with the central bank standing pat. While the Fed flagged that recent disappointing inflation readings could make rate cuts a while in coming, it signalled it is still leaning towards eventual reductions, giving some solace. "Many investors were worried the Fed may hike (again) if inflation continued to remain high, but Fed Chair Powell suggested that the likelihood of a further rate hike is low, so I think that was assuring," said Kenji Abe, an equities strategist at Daiwa Securities. But a surge in the yen against the dollar after the Fed's meeting, suspected by traders to be another round of intervention by Tokyo, muted gains by export-related s
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